Asian investors trod water Wednesday after a breathtaking start to the week fueled by the US-Iran deal, with attention now on peace talks and the planned reopening of the crucial Strait of Hormuz.Oil prices edged up in early exchanges, a day after plunging more than five percent on optimism for a lasting agreement between the two countries after more than three months of conflict that rattled energy markets and revived inflation.
Tuesday's selling was ramped up by a report in The Wall Street Journal that Washington could ease sanctions on Iranian crude as part of the deal to end the war, allowing Tehran to immediately sell crude and refined oil products.
Attention now turns to Friday's official signing ceremony in Switzerland and the subsequent negotiations that will focus on the fate of Tehran's nuclear program and a plan for the lifting of international economic sanctions.
US President Donald Trump has said the Strait of Hormuz -- through which a fifth of global crude usually passes -- would "completely open" once the peace agreement is signed.
Both main contracts have tumbled this month as hopes for a deal grew, though analysts warned that with so many hurdles ahead prices were likely to be sensitive to developments.
